Larimar Therapeutics Inc Stock Price, News & Analysis

Larimar Therapeutics (Nasdaq: LRMR), a clinical-stage biotechnology company, announced that Carole Ben-Maimon, MD, will present at the Morgan Stanley 19th Annual Global Healthcare Conference from September 9-15, 2021. The event features 1x1 investor meetings and will include a fireside chat on September 9 at 5:00 PM ET. Larimar is focused on developing treatments for complex rare diseases, notably its lead compound CTI-1601 for Friedreich's ataxia, currently in Phase 1 clinical trials in the U.S.

BALA CYNWYD, Pa., Aug. 19, 2021 – Larimar Therapeutics, Inc. (Nasdaq: LRMR) announced that Dr. David Bettoun will present at the World Orphan Drug Congress USA 2021 on August 27. His presentation, titled 'Expanding Therapeutic Possibilities for Rare Diseases,' will showcase preclinical in vitro data on Larimar's proprietary protein replacement therapy platform. Larimar is focused on developing treatments for rare diseases, with its lead compound, CTI-1601, currently in Phase 1 trials for Friedreich's ataxia.

Larimar Therapeutics (LRMR) reported positive Phase 1 results for CTI-1601, demonstrating proof-of-concept in Friedreich’s ataxia patients. Subcutaneous doses (50 mg and 100 mg) achieved frataxin levels comparable to normal heterozygous carriers. Safety data revealed no serious adverse events. As of June 30, 2021, the company had $70.6 million in cash. A $20 million equity financing was closed on July 2, 2021. However, the FDA placed a clinical hold on the CTI-1601 program due to mortalities in a toxicology study, requiring further data for trial resumption.

Larimar Therapeutics (Nasdaq: LRMR) announced that CEO Carole Ben-Maimon will participate in the William Blair Biotech Focus Conference 2021, scheduled virtually for July 14-15. Dr. Ben-Maimon will engage in a fireside chat on July 15 at 3:00 PM ET, discussing the company's development of treatments for complex rare diseases. Larimar's lead candidate, CTI-1601, is being evaluated for Friedreich's ataxia in a Phase 1 program. A replay of the chat will be accessible on Larimar's website.

Larimar Therapeutics (Nasdaq: LRMR) announced that CEO Carole Ben-Maimon will present at the JMP Securities Life Sciences Conference on June 16-17, 2021. The presentation will take the form of a fireside chat scheduled for 2:00 PM ET on June 16. Larimar focuses on developing treatments for rare diseases, currently evaluating its lead compound, CTI-1601, in a Phase 1 clinical program for Friedreich’s ataxia. The company aims to utilize its platform for creating fusion proteins targeting additional rare diseases.

Larimar Therapeutics (Nasdaq: LRMR) announced a clinical hold by the FDA on its CTI-1601 program due to mortalities observed in a non-human primate toxicology study. The company will not proceed with its planned private placement financing. CEO Carole Ben-Maimon emphasized patient safety and confirmed ongoing evaluation of data to comply with FDA requirements, potentially delaying upcoming trials into 2022. Larimar has $81.4 million in cash, sufficient for operations through mid-2022, and continues to believe in a viable path for CTI-1601’s development.

Larimar Therapeutics (Nasdaq: LRMR) announced a private placement financing raising approximately $95 million. The transaction involves the issuance of around 7,096,048 shares at a price of $13.43 per share. The funds will support the clinical development of CTI-1601, a treatment for Friedreich's ataxia, and other corporate purposes. Notable investors include Deerfield Management and RA Capital Management. The placement is expected to close by May 25, 2021.

Larimar Therapeutics (Nasdaq: LRMR) announced that the European Medicines Agency granted Priority Medicines (PRIME) designation for CTI-1601, a recombinant fusion protein aimed at treating Friedreich’s ataxia (FA). This designation comes after positive data from nonclinical and Phase 1 clinical studies, indicating that CTI-1601 can deliver human frataxin effectively. Larimar also holds multiple designations from the FDA, facilitating its development process. The company plans to initiate further clinical trials in the latter half of the year, enhancing its position in addressing rare diseases.

Larimar Therapeutics announced promising results from its Phase 1 clinical trial of CTI-1601, aimed at treating Friedreich's ataxia. The study demonstrated that daily subcutaneous injections over 13 days significantly increased frataxin levels in various tissues compared to placebo, achieving levels similar to healthy carriers. Safety data indicated that CTI-1601 was well tolerated without serious adverse events. The company plans future trials, including a pediatric study. This breakthrough could address critical unmet needs in FA treatment.